*Guide | £360,000 (plus fees)
- Mixed Use
- 2 Bedrooms
- Tenure: Freehold
Call the team on 01702 939933 for more information
An excellent Freehold mixed use investment in a neighbourhood parade
This Freehold Shop has traded successfully for many years as a hairdressers and beauty treatment business and offers some 1,315 sq. ft of retail space and includes a forecourt to the front. It is let for a Term of 5 years from 8th May 2024 at a Rent of £19,300 PA. There is a good-sized two bedroom self-contained flat to the first floor currently let at £975 PCM (£11,700 PA). The total income is £30,900 PLUS there is a large Vacant Garage to the rear which could potentially increase the Total Rental Income by £150 per month, to £32,700 PA. Albany Road is predominantly residential in nature.
Tenure
Freehold
Ground Floor Lock-Up Shop
Forecourt Main Shop Area: Approx. 884 Sq. Ft Rear Treatment area: Approx. 480 Sq. Ft. Total Ground Floor area: Approx. 1364 Sq. Ft. Forecourt: Approx. 400 Sq. Ft.
First Floor Self-Contained Two Bed Flat
External staircase from rear Kitchen: 12'3" x 7'7" (max.) Inner Hall Lounge: 17'1" x 13'11" Bedroom 1: 14'9" 14' Bedroom 2:: 10'11" x 10'9" Bathroom/WC: 0' x 6'7" (max)
Large Detached Garage to Rear
Tenancy Details
The Shop is let on a commercial lease for a Term of 5 years from 8th May 2024 at a rent of £19,200 PA (the lease is contracted out of the Security of Tenure Provisions of the 1954 Act) The Flat is let on an Assured Periodic Tenancy at a Rent of £11,700 PA (£975 pcm).
Business Rates - Shop
According to the Valuation Office website the shop and premises has a current rateable value of £10,750 with effect from 1 April 2026.
Council Tax Band - Flat
B
Energy Efficiency Rating (EPC)
Current Rating FLAT - D, SHOP - Please refer to Legal Pack
Services
Interested parties are requested to make their own enquiries to the relevant authorities as to the availability of services.
Local Authority
Havering London Borough Council
Solicitors
Taylors Legal, Ref: Elliott Costa, Tel: 020 8501 3008
Important Notice to Prospective Buyers:
We draw your attention to the Special Conditions of Sale within the Legal Pack, referring to other charges in addition to the purchase price which may become payable. Such costs may include Search Fees, reimbursement of Sellers costs and Legal Fees, and Transfer Fees amongst others.
Additional Fees
Buyer's Premium - £1500 inc VAT payable on exchange of contracts.
Administration Charge - £1200 inc VAT payable on exchange of contracts.
Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.
Disclaimer: The map preview provided above is for general guidance only and may not accurately reflect the exact location or surrounding buildings. Prospective buyers and interested parties are strongly advised to independently verify the precise location and surroundings before bidding.
Floor Plans
Click the image to view the full-sized floorplan.
